Report: Walmart holds $76 billion in tax havens

Walmart has created 78 subsidiaries and branches in 15 offshore tax havens in a bid to cut the corporate giant's taxes on its foreign operations, according to Bloomberg.

The company holds at least $76 billion in assets through shell companies based in the low-tax havens of Luxembourg and the Netherlands, said Bloomberg, who quoted a report by Americans for Tax Fairness, an organization backed by national, state and local labor and community groups.

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